The Human Genome Project aimed to identify all human genes, determine the sequences of DNA base pairs, and address ethical issues, ultimately completing its goals two years ahead of schedule. It revealed that the human genome is 99.9% similar across individuals and contains approximately 30,000 genes, with a significant portion classified as 'junk' DNA. The advancements from the project are anticipated to substantially benefit fields such as medicine, forensics, agriculture, and the understanding of human evolution.